In a recently unveiled autobiography, called Ithaki, the former premier Tsipras pulls no punches while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis as the treasury head largely due to the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras suggests how his finance chief possessed a personal motives which included promoting his publications and testing out his economic models on the nation rather than genuinely advocating the country's financial survival.
He noted that the negotiations to prevent insolvency were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During tense discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only Greece's destiny but also those harsh austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action that plunged the EU into a further crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal from creditors that proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he relished his new role.”
After the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to retirees, the leader knew that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
He further claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
